May 28 (SeeNews) - Bulgarian diversified group TK-Hold [BUL:T24] said on Thursday that it is proposing to its shareholders to skip dividend distribution and retain in full its profit for 2019.
TK-Hold shareholders will vote on the proposal at a meeting scheduled for June 30, the company said in a bourse filing.
The company's consolidated net profit excluding minority interest nearly halved to 1.1 million levs ($623,600/562,400 euro) in 2019 from 2.0 million levs in 2018.
As at 11:00 CET on Thursday, TK-Hold shares traded at 1.60 levs, unchanged from their previous closing price on the Bulgarian Stock Exchange.
TK-Hold controls stakes in 19 companies active in various segments of the economy, including fuel retail, textile manufacturing, furniture production, etc.
(1 euro = 1.95583 levs)